Providence Wealth Advisors LLC Increases Position in Entergy Corporation (NYSE:ETR)

Providence Wealth Advisors LLC lifted its holdings in Entergy Corporation (NYSE:ETR) by 249.8% in the 4th quarter, Holdings Channel reports. The firm owned 7,006 shares of the utilities provider’s stock after acquiring an additional 5,003 shares during the period. Providence Wealth Advisors LLC’s holdings in Entergy were worth $526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETR. Fortis Group Advisors LLC lifted its position in shares of Entergy by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $26,000 after buying an additional 172 shares in the last quarter. NBT Bank N A NY boosted its stake in shares of Entergy by 100.0% during the fourth quarter. NBT Bank N A NY now owns 340 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 170 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Entergy in the 3rd quarter worth $27,000. Duncker Streett & Co. Inc. lifted its stake in shares of Entergy by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 358 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 179 shares during the last quarter. Finally, Sandy Spring Bank grew its holdings in Entergy by 100.0% in the fourth quarter. Sandy Spring Bank now owns 358 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley raised their target price on Entergy from $75.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Wells Fargo & Company raised their price target on Entergy from $85.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. KeyCorp cut shares of Entergy from an “overweight” rating to a “sector weight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on shares of Entergy from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Finally, Evercore ISI upped their target price on shares of Entergy from $75.00 to $86.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Entergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.75.

Entergy Trading Up 1.4 %

NYSE:ETR opened at $84.05 on Thursday. Entergy Corporation has a 52-week low of $50.19 and a 52-week high of $88.38. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 1.81. The stock has a fifty day simple moving average of $83.25 and a 200-day simple moving average of $75.53. The company has a market capitalization of $36.20 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68.

Entergy (NYSE:ETR) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. Entergy had a net margin of 8.90% and a return on equity of 10.68%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm earned $0.26 earnings per share. On average, equities research analysts expect that Entergy Corporation will post 3.88 earnings per share for the current fiscal year.

Entergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.86%. Entergy’s dividend payout ratio (DPR) is presently 98.77%.

Entergy Company Profile

Entergy Corporation, together with its subsidiaries, engages in the production and retail distribution of electricity in the United States. It generates, transmits, distributes, and sells electric power in portions of Arkansas, Louisiana, Mississippi, and Texas, including the City of New Orleans; and distributes natural gas.